EX-12 5 exb121.htm MECHANICAL TECHNOLOGY INCORPORATED - EXB. 12.1 05/11/06

EXHIBIT 12.1

Computation of Ratio of Earnings to Fixed Charges

(In thousands, except ratios)

     
 

Three

       

Three

 
 

Months

Year

Year

Year

Year

Months

Year

Ended

Ended

Ended

Ended

Ended

Ended

Ended

 

Mar. 31,

Dec. 31,

Dec. 31,

Dec. 31,

Dec. 31,

Dec. 31

Sept. 30,

 

2006

2005

2004

2003

2002

2001

2001

               

Fixed charges computation:

             

Interest expense

$ -

$ -

$ -

$ 7

$ 46

$ 15

$ 1,970

Portion of rent expense

             

representative of an

             

interest factor (a)

33

149

141

127

107

27

91

Total fixed charges

33

149

141

134

153

42

2,061

               

Earnings computation:

             

Pre-tax loss before equity in

             

Losses of affiliates per

             

consolidated statement of

             

operations

(3,264)

(14,949)

(9,121)

(1,731)

(1,569)

(17,161)

20,736

Add: Fixed charges

33

149

141

134

153

42

2,061

 

$(3,231)

$(14,800)

$(8,980)

$ (1,597)

$(1,416)

$(17,119)

$22,797

               

Ratio of earnings to fixed

-

-

-

-

-

-

11

charges (b)

             
               
               
               
               
  1. The interest factor was calculated to be twenty percent (20%) of rental expense under operating leases and is considered to be a representative interest factor.
  2. For the three months ended March 31, 2006, the years ended December 31, 2005, 2004, 2003 and 2002 and the three months ended December 31, 2001, our earnings were insufficient to cover our fixed charges by approximately $3,264, $14,949, $9,121, $1,731, $1,569 and $17,161 thousand, respectively.